Starwood to open three hotels in Nigeria

Starwood Hotels and Resorts Worldwide has announced that it will increase its African portfolio by nearly 30 per cent with 10 new hotels set to open over the next three years, adding more than 4,200 guest rooms to the continent and creating thousands of local employment opportunities. Three of these hotels will be in Nigeria.

Emphasising the importance of Africa as one of the world’s fastest-growing hotel and travel markets, the company’s Frits van Paasschen and members of Starwood’s senior executive team were in Nigeria and two other key growth markets,Angola and Gabon.

“Home to seven of the world’s 10 fastest growing economies, there could not be a better time to expand our footprint in Africa,” said Frits van Paasschen, President and CEO, Starwood Hotels and Resorts.

”From a vastly improving infrastructure, major investments from China, rapid economic growth, rising personal incomes and a growing middle class – we are seeing exciting changes that are driving the African future and we intend to be a part of it,”he said.

At a press conference in Lagos, van Paasschen shared Starwood’s plans to further expand its portfolio in Nigeria, the company’s largest growth market on the African continent.

Starwood currently operates five hotels in Nigeria, one in Abuja, one in Ibom, one in Port Harcourt and two in Lagos under its Sheraton, Le Méridien and Four Points by Sheraton brands. By 2015, Starwood will open three additional hotels in Nigeria, one property in Benin City and two in Lagos.

“Nigeria is the most populous country in Africa and boasts the second-largest economy on the continent, presenting tremendous opportunities for the country to play a key role in our African expansion.With investor-friendly policies in place and ongoing economic growth, Nigeria epitomises the economic ascent of Africa as a development destination,”said Simon Turner, President of Global Development & Acquisition, Starwood Hotels & Resorts.

With more than 70 per cent of the world’s economic growth coming from fast-growing markets over the next few years, Starwood is focused on expansion in developing African countries such as Nigeria, Algeria, Egypt and South Africa. The company is also looking to enter key emerging countries, including Angola, Ivory Coast and Ghana.

As part of this strategy, Starwood is investing in the development, sales and expansion of its Starwood Preferred Guest (SPG) programme in Africa. By the end of this year, Starwood will double its dedicated development team focused on growth in Africa, underscoring the company’s commitment to continued growth in the region.